Your selected savings accounts
ING is one of the bigger banks operating in Australia, offering a range of banking products including savings accounts, home loans, and superannuation. Among its savings products, ING offers the Savings Maximiser, Savings Accelerator, as well as term deposits to help customers reach their financial goals.
High variable interest rate of up to 5.50% p.a.
No monthly account fees
Unlimited free transactions
Easy to link with an Orange Everyday transaction account
Bonus interest rate subject to meeting monthly criteria
Highest interest rate limited to balances up to $100,000
ING's Savings Maximiser account has one of the highest rates we track at 5.50% p.a. The account offers a base rate of 0.55% p.a., with an additional variable rate of 4.95% p.a. available for eligible accounts. To earn the bonus interest, customers need to meet monthly criteria:
1. Deposit at least $1,000 from an external source into any personal ING account.
2. Make 5 or more settled (not pending) eligible card purchases.
3. Grow the Savings Maximiser account balance (excluding interest earned for the current month).
It's worth noting that the highest interest rate applies to balances up to $100,000 on one nominated Savings Maximiser account. While this cap might be a drawback for some high-balance savers, it’s still high enough to offer value to most savers.
The requirement to open an Orange Everyday account alongside the Savings Maximiser might be seen as an extra step, but it can provide more flexibility in managing your finances. The Orange Everyday account itself comes with benefits like no monthly fees and rebates on international ATM withdrawal fees which could be helpful for savers.
Overall, the ING Savings Maximiser could be an excellent choice for savers who can consistently meet the monthly criteria and are looking to maximise their interest earnings.
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
Your selected savings accounts
Has great savings and interest opportunities
Easy convenient banking I have been with ING for years now I have had no issues and great return each time I make a payment on a utility bill I get a return of $1-$2 per transaction
The only bad thing I have to say about this is that it can be annoying to hit all the marks to get the bonus interest but once you do its really worth it.
Very competitive fees. Only downside is the lack of branches and customer service.
Ing Savings Maximiser is fee free, excellent online portal, and good customer service should you need it. Only inconvenience is the lack of branches. If I need to visit a branch it would require a trip into the Sydney CBD.
I have always found ING to be a truly friendly and dependable bank. Great service and extremely helpful. AlwY get to speak to a real person . More than happy with this bank
I've been with ING for a while now, and overall, it’s been a positive experience. What really stands out is their no-fee banking. As long as I meet the monthly conditions, I don’t have to worry about random charges eating into my money, which is a huge relief. The interest rates on their savings accounts are also pretty solid, especially when I manage to hit those monthly targets. It's definitely helped me grow my savings faster. One of the things I love most is their mobile app. It’s incredibly user-friendly, making it easy to manage my accounts and move money around whenever I need to. Plus, transfers and payments are super quick—I’ve never had to wait long for things to go through. And whenever I’ve needed help, their customer service has been on point. They’re responsive and seem to know their stuff, which has made any issues easy to resolve. On the flip side, those monthly conditions can be a bit of a pain. If my spending or income isn’t consistent, it’s something I have to be really mindful of to make sure I’m not missing out on the benefits. And since ING is an online-only bank, there are no branches to visit if I ever need in-person support, which could be a downside for some people. But overall, I’m pretty happy with ING and would recommend it to anyone who prefers online banking and doesn’t mind managing a few conditions to get the most out of it.
Easy to use, rate rates and no hassles!
ING savings maximiser is a great account. You get a big bonus interest every month your balance grows. ING is a great bank amd very easy to set up accounts and use day to day
All aspects of ING are excellent, except for the fact that there are no actual banks to visit. However the fact that I can use my card at any ATM anywhere without charges is very convenient .
Yes, ING is a secure banking option in Australia. As an Authorised Deposit-taking Institution (ADI), deposits up to $250,000 are protected by the Australian Government's Financial Claims Scheme, providing a high level of security for your savings.
To earn the highest interest rate of 5.50% p.a., you need to:
Yes, you can open multiple Savings Maximiser accounts. However, the highest interest rate (up to 5.50% p.a.) will only apply to one nominated account with a balance of up to $100,000 when you meet the eligibility criteria.
^See information about the Mozo Experts Choice Savings Account Awards
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